NigComSat targets $3bn revenue, expands into private sector

The Nigerian Communications Satellite Limited (NigComSat) is targeting an average annual revenue of $3 billion as it explores new growth avenues and expands its services beyond traditional government contracts.

NigComSat Director-General, Jane Egerton-Idehen, made the projection on Thursday in Abuja at the July edition of the DevsInGovernment MDA workshop series, organised by the Ministry of Communications, Innovation and Digital Economy.

The event, themed “Driving Operational Excellence through Technology at NigComSat”, was supported by Galaxy Backbone and the World Bank.

Egerton-Idehen said the agency is undergoing a strategic shift aimed at developing innovative products and extending their lifecycle to unlock greater value.

“We are currently projecting an average annual revenue of about $3 billion.

But with more innovation and longer product lifespans, we believe we can surpass that,” she said.

She noted that beyond its existing broadcasting services, NigComSat is exploring new revenue streams that could double or even triple its current earnings.

Raising awareness about NigComSat’s offerings and improving visibility among public and private stakeholders, she added, would be key to sustaining growth.

Also speaking at the event, NigComSat’s Executive Director of Technical Services, Abiodun Attah, highlighted efforts to broaden the agency’s operational scope.

He said the agency is now working with Mobile Network Operators (MNOs) to provide 2G, 3G, and 4G services in underserved rural areas.

“In the past, NigComSat focused mainly on government clients and avoided the enterprise market.

“That has changed. We are now actively engaging businesses and expanding our services,” Attah stated.

The DevsInGovernment initiative aims to build a community of technologists and innovators within the public sector who are driving digital transformation across government agencies.